[Asia Economy Reporter Lim Chun-han] Nongshim announced on the 4th that its consolidated sales for last year reached 2.6398 trillion KRW, a 12.6% increase compared to the previous year. Operating profit increased by 103.4% to 160.3 billion KRW. Both sales and operating profit are record highs.
Nongshim explained, "Performance improved due to sales growth in domestic core businesses such as ramen and snacks, as well as overseas business expansion."
In the ramen sector, Nongshim performed well last year, led by the market-leading product Shin Ramyun and the so-called 'Jjapaguri' craze, with both Chapagetti and Neoguri gaining popularity. Neoguri surpassed 100 billion KRW in annual sales for the first time in history last year, and Chapagetti also reached the 200 billion KRW annual sales mark, becoming the third domestic ramen product to do so.
In the snacks sector, products like Saewookkang and Gamjakkang gained popularity due to the 'Kkang craze' inspired by singer Bi's song "Kkang." Nongshim estimates that overseas sales reached approximately 990 million USD (about 1.1 trillion KRW) last year, supported by ramen stockpiling demand amid COVID-19. However, this sales figure is based on estimates as of November last year and may change once the actual annual results are finalized.
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